Ross Stores Formed a Bearish Engulfing Candle

rost New York, February 17th (TradersHuddle.com) - Shares of Ross Stores, Inc. (NASDAQ:ROST) ended the trading session higher by $0.25 or 0.41% from its previous close. Ross' price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Ross Stores, Inc. (NASDAQ:ROST) operates a national chain of off-price retail apparel stores. The stores offer brand-name apparel, apparel-related merchandise for the entire family, fragrances, gift items, and linens for the home.

Ross' current stock range is determined by calculated support defined at $52.01 and by the resistance level at $62.07, which should be used by traders planning their next move.

If traders want to establish a position in Ross Stores, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Ross Stores for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,486.66 ▼14.99 (-0.09%)
o S&P 500 1,875.04 ▼0.35 (-0.02%)
o NASDAQ 4,125.36 ▼1.61 (-0.04%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,486.66 Trade time:10:16AM EDT Value change:▼14.99 (-0.09%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,875.04 Trade time:10:16AM EDT Value change:▼0.35 (-0.02%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,125.36 Trade time:10:16AM EDT Value change:▼1.61 (-0.04%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.